Dollar climbs amid rising risk aversion, economic rebound woes
The dollar soared on Friday morning in Asia as doubts about global economic rebound continue to surface. Japanese yen and Swiss franc also climbed while Australian and New Zealand dollars placed near multi-month lows.
The U.S. Dollar Index that measures the greenback against other major currencies rose 0.05% to 92.453 but recorded a drop from a three-month high.
The USD/JPY pair also climbed 0.15% to 109.95, with the yen continuing its gain with a 0.8% increase.
The AUD/USD pair fell 0.11% to 0.7420. The Australian dollar recorded a steady drop after tallying a 0.7% crash and hitting its weakest since mid-December 2021 on Thursday.
The NZD/USD pair shed 0.19% to 0.6940.
The USD/CNY pair fell 0.09% to 6.4840. China’s consumer price index (CPI) gained a smaller-than-expected 1.1% year-on-year in June while contracting a bigger-than-expected 0.4% month-on-month. The country’s producer price index (PPI) climbed 8.8% year-on-year.
The GBP/USD pair was down 0.07% to 1.3775.
The Swiss franc soared more than 1% on Friday continuing its gain from the previous session.